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Craig D. Robins, Esq. New York Bankruptcy Attorney, Longisland bankruptcy attorney

“ Craig D. Robins, Esq., has been a practicing Long Island bankruptcy attorney for over twenty-four years ”

Craig D. Robins, Esq.

Long Island Quarterly Foreclosure Statistics — Fourth Quarter 2008

Posted on Friday (February 27, 2009) at 12:15 am to Long Island Economy

Almost half a billion dollars of Long Island mortgage loans were put into foreclosure from September through December 2008.

Here are the latest statistics showing the number of lis pendens filed on Long Island.

  Long Island Lis Pendens Filings  
Fourth Quarter – 2008
 Location Amount  Median  Average 
 Long Island 1,292  489,244,801  325,350  378,672 
 
 Suffolk County 769  281,844,636  304,000  366,508 
 
 Nassau County 523  207,400,165  368,000  396,559 
 
 Babylon Township 128  43,628,248  303,525  340,846 
 Brookhaven Township 289  85,646,995  275,600  296,356 
 East Hampton Township 19  9,678,000  517,500  509,368 
 Huntington Township 61  26,830,676  382,500  439,847 
 Islip Township 180  68,084,964  300,000  378,250 
 Riverhead Township 18  9,273,746  243,125  515,208 
 Shelter Island Township
 Smithtown Township 33  12,194,797  370,000  369,539 
 Southampton Township 34  22,976,210  505,000  675,771 
 Southold Township 3,531,000  400,000  504,429 
 Hempstead Township 364  127,350,408  356,675  349,864 
 North Hempstead Township 60  30,812,990  463,500  513,550 
 Oyster Bay Township 99  49,236,767  391,623  497,341

 

A foreclosure proceeding is started when the mortgagee files a document called a lis pendens with the county clerk.

The median mortgage being foreclosed is in the $300,000 to $400,000 range, which is a hefty amount for many Long Islanders to afford.

Many of these homeowners may be able to save their homes by filing for Chapter 13 bankruptcy.
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